Videocon to wait for Trai recommendation before future action

Mobile services provider Videocon Telecommunication,whose telecom licences are set to be cancelled,today said it will wait for sector regulator Trai's recommendation before deciding on its future course of action.

Mobile services provider Videocon Telecommunication,whose telecom licences are set to be cancelled,today said it will wait for sector regulator Trai’s recommendation before deciding on its future course of action.

“I think we have to wait for four months. Let rebidding process come. Then we have to look at Trai recommendation,” Videocon Telecommunications Managing Director R N Dhoot told reporters here.

The Supreme Court has ordered the cancellation of 122 telecom licenses that were issued in January,2008,including all 21 licences that Videocon Telecommunications has.

As per latest report of the Telecom Regulatory Authority of India,Videocon Telecommunications had over 54 lakh subscribers at the end of December,2011. The company’s performance in the sector has been on decline.

According to Trai,the company lost over 37,000 subscribers in December and 5.8 lakh subscribers in November.